A dwelling ceases to be social housing if a private registered provider ... owns the freehold or a leasehold interest and transfers it to a person who is not a registered provider ....
Subsection (1) does not apply if and for so long as the private registered provider has a right to have the interest transferred back to it.
Subsection (1) does not apply where low cost home ownership accommodation is transferred to—
the "buyer" under equity percentage arrangements (see section 70(5)), or
the trustees under a shared ownership trust (see section 70(6)).
See section 73 for circumstances when low cost home ownership accommodation ceases to be social housing.